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Eurozone 3Q GDP Falls 0.1%

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:55
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This is that it Imus in the morning.

Program on the Fox Business Network.

Good morning everyone -- -- check the markets now here in the US futures are in the green across the board Dow futures.

Are up by fifteen -- and he's up by three to nasdaq's up by about five in Europe.

Eurozone GDP fell point 1% in the third quarter putting the region back in recession.

Growth in Germany slowed -- GDP rose avoiding recession and Italy contracted but by less than expected markets in Europe.

Are down across the -- seen London down.

About twenty points Paris is down about seven in Frankfurt down about 37.

A sick a closer look now what's moving those markets at -- -- market analyst at BDC partners in London.

Like looking at these GDP numbers -- last -- largely blamed austerity but that's still -- huge issue for the -- to how do you promote growth there without encouraging countries to spend money you don't have which is what happened in this problem in the first.

What exactly that's the sixty -- -- and -- dollar -- fully fifty trillion Euro.

Question and you know this is something which is it actually cutting -- -- -- be growing slack that was seen between the IMF's.

And the European unit near the -- method for a few weeks ago hadn't said basically that austerity is not working in not talks the Euro zone.

And Germany ends of the people such statements response was well that's -- helpful.

Because it set dozens -- we what we think is actually going on we know.

That it isn't working we see conceded a Muslims alike as we -- to be happy that the not worse than expected.

But at the moment it seems as though unit of Germany's for per unit activity go through austerity and the IMF I I think they gonna be heading for the door and not too distant future.

MI -- here from Germany and other started taking the same side that.

There hasn't been enough time for them to really take the effect they're supposed to have that -- austerity take a long time to show positive -- but once it does it's more stable.

What do you make of that.

I.

Yeah how much higher than they really talking about and increases in its fifth year recession again how and although one of those next year and according to their -- full cost which -- -- -- you soon.

Is probably -- Pessimistic.

That the going to be a recession in recession again -- -- fourteen so.

-- -- it reminds me of the Einstein coats you know insanity easy it -- repeated -- same experiment over and over again and expecting it if the result that isn't going to be a different result.

Now Visa -- was gonna people contracting.

You know aren't that's Mike Inger -- BBC partners over in London my guy -- talk -- -- thanks.

Thanks pretty -- -- from Viacom -- entertainment companies reporting an adjusted profit of one dollar 21 cents a share topping the estimate.

For -- seventeen revenue came in at 3.3 six billion dollars the estimate there was for 3.4 billion.

Wal-Mart is also reporting -- the world's largest retailer says it earned a profit of one dollar eight cents a share just tapping the estimate there for a dollar seven.

Revenue though came in slightly -- that number was 133 point 93 billion dollars the estimate there was -- that topped the estimate that was for 133.

Point 93 billion dollars the estimate there was pro 114.

Correction there that was 113 point ninety billion dollars that is shy.

Of the estimate for 114 point 96 billion dollars violence.

Meanwhile BP is in talks of the Justice Department and Securities and Exchange Commission about a plea deal in connection with the 2010 Gulf of Mexico oil spill.

According to reports that agreement.

Could be announced as early as today under the potential deal the oil company would pay a record criminal penalty and plead guilty to criminal misconduct.

And that would resolve all criminal charges in the case but wouldn't cover federal.

Or private civil claims related to that deep water horizon explosion which killed eleven workers and led to the worst offshore oil spill.

In US history the current record for largest criminal penalty in the US is the one point three billion dollars Pfizer paid in 09.

For marketing fraud related to a pain medication any agreement reached with BP will need to be approved by a federal court.

Texas Instruments has announced plans to slash about 17100.

Jobs.

The semiconductor maker says the cuts stem from a plan to focus its wireless chips.

On a broader range of industries and shift away from the mobile wireless market where companies are developing their own custom chips.

Those job cuts equal.

About 5% at TI's workforce and should result in about 450 million dollars in annual savings by the end of next year.

The move comes just weeks after the company reported weaker than expected third quarter earnings the drop in sales and a disappointing fourth quarter earnings outlook.

Here's a look at commodities now I think oil and gold mixed oil is up by about twelve cents trading and 86 dollars a barrel.

Gold down almost nine bucks at 1721.

Announced.

And coming up this hour Imus is guests will be New York congressman Peter King.

Now here's the -- -- live on Fox Business giving you the power to prosper.

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